1.Record the following transactions for Sparky’s Pet Shop using the general journal form provided below. Assume...

1.Record the following transactions for Sparky’s Pet Shop using the general journal form provided below. Assume Sparky’s uses a perpetual inventory system. Omit transaction descriptions from entries:

Date	Transaction
July 3	Sold merchandise on account for $3,750. The cost of the merchandise sold was $2,000
July 5	Issued credit memo for the $1,050 for merchandise returned from sale on July 3. The cost of the merchandise returned was $610.
July 12	Received check for the amount due for sale of July 3 less return on July 5.
August 1	Purchased $6,000 of merchandise on account, terms 2/10, n/30.
August 3	Returned $1,500 of merchandise purchased on August 1 due to defects.
August 7	Recorded cash sales for the first week of August, $9,750 plus 6% sales taxes; cost of the merchandise was $4,000.
August 10	Made sale on account to a local breeder for $500, terms 1/10 net 30; cost of the merchandise was $200.
August 11	Paid for the merchandise purchased on August 1, less return.
August 20	Received payment from sale of August 10.

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